Insurance Group Opposes Repeal Of Exemption

Law360, New York (March 28, 2007, 12:00 AM EDT) -- Nine major U.S. insurance trade associations have pressed Congress to reject two bills that would repeal an antitrust exemption that the insurance industry has received for more than 60 years.

The associations sent a joint letter to legislators on Friday opposing House and Senate bills that would repeal the 1945 McCarran-Ferguson Act and subject the industry to U.S. Federal Trade Commission oversight.

The group, including American Insurance Association, the American Council of Life Insurers and the National Association of Mutual Insurance Companies, claims the repeal proposals,...
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